TVS Motor Shares in Focus; Completes Acquisition of 39.11% Stake in DriveX Mobility

TVS Motor Company announced that it has finalised the acquisition of a 39.11% Stake in DriveX Mobility, increasing its holding to 87.38% and making DriveX a Subsidiary

Acquisition Details 

This move has made DriveX a subsidiary of TVS Motor. The acquisition, consisting of 7,914 equity shares, was completed on December 23, 2024, following the company’s earlier disclosure on November 29, 2024.

TVS Motor November Sales Highlights

TVS Motor Company reported a 10% increase in total sales, reaching 4,01,250 units in November, compared to 3,64,231 units in the same month last year.

Two-wheeler sales rose by 12%, totaling 3,92,473 units in November 2024, up from 3,52,103 units in November 2023. Domestic two-wheeler sales saw a 6% growth, reaching 3,05,323 units last month, compared to 2,87,017 units in November 2023.

The company also noted a 57% rise in electric vehicle sales, which amounted to 26,292 units, up from 16,782 units in November 2023. However, three-wheeler sales declined to 8,777 units in November 2024, down from 12,128 units in the same month last year.

Share Price Performance 

TVS Motor Company’s share price traded 0.39% higher at ₹2,397.70 at 10:30 AM on the NSE. The stock opened at ₹2,389, higher than the previous close of ₹2,388.30. The share price rose today, ending a three-session losing streak.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.